In a small group, present a plan for a new retail store. Who is the target market? Describe the merchandise, atmospherics, price points, services provided, location, and how you would promote your retail store. Describe how you will differentiate your store from competitors.
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- Explain why a retailer should be concerned with market segmentation and identifying a target market. Define and discuss the three criteria that should be met to reach a target market. NOTE: the criteria is in the photo attached.Assume you are considering opening a retail business. You are trying to decide whether to have a traditional “brick-and-mortar” store or to sell only online. Explain how the activities and costs differ between these two retail arrangements.Identify and explain one main gap between clothing retailer and customer you believe your will fill.
- Select two stores that you shop regularly. What competitive advantages do those stores have over their competitors that cause you to shop there rather than at the competitors? Develop your personal mission statement, with supporting goals.Review the Aldi case study on page 169 of your textbook. Assess your satisfaction with Aldi and make recommendations about how the company could modify its business-level strategy to both increase your overall level of satisfaction and to attract new customers. Provide specific examples to support your response. Analyze the five business-level strategies discussed in Chapter 4 to determine which strategy most likely applies to Aldi. Determine how a shopper's experience might change if it switched to one of the other four strategies (your choice). Explain your rationale. The Ripple Effect of Supermarket Wars: Aldi Is Changing the Markets in Many Countries Aldi started as a small, family-owned grocery store located in Essen, Germany, in 1913. Two sons, Karl and Theo, took over the store from their mother in 1946; soon after doing so, they began expanding the business. They emphasized low costs from the very beginning, allowing them to offer their products to customers at low prices…What is your favorite store? Explain in detail why it has become your favorite, and what other stores can learn from this.
- Deciding on a target market and positioning for aretail store are very important marketing decisions.In a small group, develop the concept for a new retailstore. What is the target market for your store? Howis your store positioned? What retail atmospherics will enhance this positioning effectively to attract and satisfy your target market?Choose a fast-food restaurant chain that does business in your area. Describe the company's target market and explain how its marketing mix is designed to appeal to this target market. Explain how they segment the market to match their product/serviceInterview the manager or marketing manager of a retail firm. Determine how this individual develops the marketing strategy. Compare this person’s process with the approach described in the text
- What types of retailers would attract our target audience?Choose a product category that both you and your parents purchase (e.g. business, clothing, casual clothing, music, electronic equipment, shampoo). In which type of store do you typically purchase this merchandise? What about your parents? Explain why there is, or is not, a difference in your store choices.Identify a unique selling proposition that you would propose for a given product or service.